Bavarian Nordic Reports Strong Q1 Growth Amid Increased Vaccine Sales

COPENHAGEN, Denmark, May 9, 2025 – Bavarian Nordic A/S (OMX: BAVA) reported its financial results for the first quarter of 2025, highlighting a robust growth trajectory in its Travel Health division. The company achieved an operating profit of DKK 420 million, equating to an EBITDA margin of 31%.

Revenue for the three-month period reached DKK 1,347 million, reflecting a 62% increase compared to the same time last year. Bavarian Nordic is maintaining its financial guidance for the full year, predicting revenues between DKK 5,700 million and DKK 6,700 million, with an EBITDA margin forecast of 26% to 30%.

Paul Chaplin, President and Chief Executive Officer of Bavarian Nordic, stated, “A very strong first quarter for our Travel Health business, demonstrating a 52% growth year-over-year. This growth positions us ahead of our strategic goal of achieving an annual growth rate of 10-12% until 2027.” He noted the company’s first U.S. sales of the chikungunya vaccine, which was approved earlier this year.

The approval of the chikungunya vaccine comes as the company implements a phased launch plan, with initial European markets expected to be operational in the coming months. Chaplin added, “Chikungunya represents an increasing public health threat across the globe, and we are proud to have entered our first partnership to improve access to the vaccine for low- and middle-income countries.”

In its Public Preparedness division, Bavarian Nordic exceeded expectations, fueled by timely deliveries. This achievement also emphasizes the company’s capability to meet the rising demand for its mpox and smallpox vaccines.

The U.S. FDA approved the freeze-dried formulation of the MVA-BN® (IMVAMUNE®) vaccine in March to combat smallpox and mpox disease. In May, the U.S. government exercised options worth $143.6 million under an existing contract to stockpile the smallpox vaccine, with delivery slated for 2026.

The company will discuss its interim results in greater detail during a conference call and webcast scheduled for today at 2 pm CEST (8 am EDT). Investors can access the presentation and participate in the Q&A session by registering in advance.